Painting Tapes Market Size, Share, Growth and Industry Analysis by Type Foam, paper, plastic, and, others.) By Application (Automotive, building and construction, general industrial, aerospace and, others.), Regional Forecast To 2031

Updated On: 01 April 2024

Painting Tapes Market Report Overview

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The global painting tapes market size is anticipated to be worth USD 2986.6 million in 2021 and market is projected to touch USD 4954.01 million by 2031 with a CAGR of 5.2% during the forecast period. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Painting tapes are also known as masking tape. It is a kind of pressure sensitive tape. It is made up of a thin and easy-to-tear paper. An easily released pressure-sensitive adhesive is also used for preparing the tape.

There have been a lot of developments and discoveries in the market. These developments have paved way for the development of the market furthermore. One such new discovery that can be witnessed in the painting tapes market is the production of tapes with high quality adhesive. This has been identified as the latest trend in the market. Painting tapes have a vast application in both paintings and coatings industry. Easy unwind and the multi-surface performance are some of the improvised qualities of these tapes that attract large customer base to the market. These are the factors driving the market growth.

COVID-19 impact:  Plant Shutdowns Due To COVID-19 Reduced the Market Growth

The COVID-19 pandemic caused a disruption in all the industries and markets throughout the world. It forced all the countries to impose lockdowns and social distancing norms. Due to this there was a steep decline in the global economic curve. The painting tapes market was not an exception and experienced a huge loss during the pandemic period.

There was a massive disruption in the demand-supply chain and equilibrium across all industries, especially in the adhesive market which brought down the painting tapes market share. Another major reason was the shutdown of the plants and factories in key production regions such as Asia, North America and Europe in the later quarter of 2020 that reduced the scale of production in the market. The increase in the price of raw materials, non-availability of skilled workers were also some reasons that led to the fall of market share during the pandemic.

LATEST TRENDS

"High Adhesive Painting Tapes to Increase the Market Growth"

New developments and discoveries are being done every day in all the fields. These developments are amplifying the market growth. One such new discovery that can be witnessed in the painting tapes market is the production of tapes with high quality adhesive.

This has been identified as the latest trend in the market. Strong adhesive will make the tape to stick together firmly. This has increased the painting tapes market share.

Painting Tapes Market SEGMENTATION

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• By Type:

The market can be divided on the basis of type into the following segments. Foam, paper, plastic, and, others. The foam segment that is expected to lead the market during the forecast period.

• By Application:

Classification based on application is as follows: Automotive, building and construction, general industrial, aerospace and, others. Automotive segment that is expected to lead the market during the forecast period.

DRIVING FACTORS

"Vast Application Of Painting Tapes In Painting And Coatings Industry To Increase Market Growth"

Painting tapes have a vast application in both paintings and coatings industry. This has propelled the market growth. The increasing demand for painting and coating industry will in turn increase the demand for painting tapes.

They are primarily used for providing perfect sharp edges. It helps in providing the perfect finishing during painting. Good and strong adhesion is also another factor promoting the painting tapes market growth.

"Improvised Qualities and Easy-To-Use Features of These Tapes to Amplify Market Growth"

These painting tapes are very easy and handy to use. Apart from being easy-to-use they are also suitable to be used both indoors and outdoors. They also provide the perfect finishing that is required.

Once they are applied, they can also be removed easily without any difficulty. Residues will not be left over even on the most delicate surfaces. Easy unwind and the multi-surface performance are some of the improvised qualities of these tapes that attract large customer base to the market. This has been a major factor in the market growth and development.

RESTRAINING FACTOR

"High Time Consumed to Complete the Work with These Tapes to Decrease the Market Growth"

Painting tapes are very useful and can be used to obtain the perfect finishing. However, using these tapes can consume a lot of time to complete the work. This may cause delay in the work. This can act as a major restraining factor for the growth of the industry.

Sometimes there are also chances of the tape peeling way with residual remains. The tapes can also cause the peeling away of the paint that has already been applied. All of these can deteriorate the market growth.

Painting Tapes Market Regional Insights

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"Asia Pacific To Dominate the Market During the Forecast Period"

The region that is seen dominating the market is Asia Pacific. North America is the region that occupies the next position in the market share. Asia Pacific and North America are the major markets with high revenue returns. Many favorable factors have led to the growth of the market in Asia Pacific.

 Some of them include the high manufacturing capacity and huge investments that are coming in from the key players of the market. Increased production has given way to higher sales making Asia Pacific the top market share holder. The availability of resources, raw materials and men force are some of the other notable factors that have contributed to the market growth in the past few years. Also, the increase in the production of high-performance coatings and adhesive is increasing the market share.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• 3M Company (U.S.)
• Nitto Denko Corp (Japan)
• Beiersdorf (Tesa) (U.S.)
• Shurtape Technologies (U.S.)
• Berry Global (U.S.)
• Intertape Polymer Group (China)
• Scapa Group PLC (U.S.)
• Saint-Gobain (France)
• Bolex (Switzerland)
• Advance Tapes (U.K.)

Report Coverage

The report provides an insight into the painting tapes industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations. The report is very useful for making decisions and forecasts.